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Time is currency: time banking fosters community and frugality through reciprocity

TIME IS CURRENCY: TIME BANKING FOSTERS COMMUNITY AND
FRUGALITY DURING RECESSION
by
Michelle Marie Lanz
____________________________________________________________
A Thesis Presented to the
FACULTY OF THE GRADUATE SCHOOL
UNIVERSITY OF SOUTHERN CALIFORONIA
In Partial Fulfillment of the
Requirements for the Degree
MASTER OF ARTS
(PRINT JOURNALISM)
December 2009
Copyright 2009 Michelle Marie Lanz

Residents of cities like Los Angeles and New York might never meet one of their neighbors, let alone their whole neighborhood. But as the recession continues and people find it harder to afford necessities, they’re turning to a 20-year-old service-trading concept called time banking in order to save money and build stronger communities. One such time bank has formed in the hills of Echo Park, Calif. bringing 30 former strangers together to form the Echo Park Time Bank collective. Unlike traditional bartering where two parties have to negotiate the value of their goods, the time bank rewards good or services with hypothetical “time dollars,” stored in an online profile. Businesses are also using a bartering method to save money on office equipment, services and employee incentives. Bartering and time banking are useful alternatives for families of businesses struggling in an unsteady economy.

TIME IS CURRENCY: TIME BANKING FOSTERS COMMUNITY AND
FRUGALITY DURING RECESSION
by
Michelle Marie Lanz
____________________________________________________________
A Thesis Presented to the
FACULTY OF THE GRADUATE SCHOOL
UNIVERSITY OF SOUTHERN CALIFORONIA
In Partial Fulfillment of the
Requirements for the Degree
MASTER OF ARTS
(PRINT JOURNALISM)
December 2009
Copyright 2009 Michelle Marie Lanz